MISC Integrated Annual Report 2020

22. TRADE AND OTHER RECEIVABLES (CONT’D.) (a) Trade receivables The Group’s normal trade credit terms with its customers range from 7 to 90 days (2019: 7 to 90 days). Other credit terms are assessed and approved on a case-by-case basis and each customer is assigned a maximum credit limit. (b) Other receivables and amounts due from related parties The non-trade balances due from holding company, subsidiaries, associates and joint ventures arose in the normal course of business. Certain loans and advances to subsidiaries bear interest ranging from 1.54% to 4.70% (2019: 3.00% to 4.70%) per annum. The ageing of trade receivables net of impairment (excluding amount due from customers on contracts and finance lease receivables) as at the end of the reporting period is analysed below: Group Corporation 2020 2019 2020 2019 RM’000 RM’000 RM’000 RM’000 At net Current 677,020 952,764 161,194 165,440 Past due 1-30 days 178,894 186,832 2,405 26,418 Past due 31-60 days 104,425 38,806 11,402 2,349 Past due 61-90 days 129,480 26,783 1,824 1,017 Past due more than 90 days 758,051 838,693 5,902 – 1,847,870 2,043,878 182,727 195,224 The movement in the allowance for impairment loss of trade, other and finance lease receivables during the year are as follows: Group Corporation Trade Finance Trade Finance and Other Lease and Other Lease Receivables Receivables Receivables Receivables (Note 20(d)) (Note 20(d)) RM’000 RM’000 RM’000 RM’000 At 1 January 2020 664,200 73,138 381,509 7,421 Impairment loss (Note 5) 34,563 – 13,915 – Write back of impairment loss (Note 4) – (8,878) (136) (814) Write off (42,017) – (42,017) – Unwinding of discount on trade receivables (Note 10(a)) (18,821) – (18,821) – Currency translation differences (10,597) (925) (5,042) (95) At 31 December 2020 627,328 63,335 329,408 6,512 At 1 January 2019 709,961 79,398 436,574 7,872 Impairment loss (Note 5) 36,839 – 22,019 – Write back of impairment loss (Note 4) – (5,455) – (369) Write off (41,425) – (41,425) – Unwinding of discount on trade receivables (Note 10(a)) (16,477) – (16,477) – Currency translation differences (24,698) (805) (19,182) (82) At 31 December 2019 664,200 73,138 381,509 7,421 23. DUE FROM/(TO) CUSTOMERS ON CONTRACTS Group 2020 2019 RM’000 RM’000 Construction contract costs incurred and recognised profits to date 4,967,569 4,174,689 Less: Progress billings (4,491,705) (4,141,545) 475,864 33,144 Due from customers on contracts (Note 22) 491,259 39,137 Due to customers on contracts (Note 26) (15,395) (5,993) 475,864 33,144 The movement of amount due from/(to) customers on contracts is as follows: Group 2020 2019 RM’000 RM’000 At the beginning of the year 33,144 218,880 Revenue recognised during the year (Note 3) 1,926,878 936,523 Progress billings during the year (1,484,158) (1,122,259) At the end of the year 475,864 33,144 24. CASH, DEPOSITS AND BANK BALANCES Group Corporation 2020 2019 2020 2019 RM’000 RM’000 RM’000 RM’000 Cash with PETRONAS Integrated Financial Shared Services Centre 4,023,265 4,355,497 1,609,734 2,803,030 Cash and bank balances 1,840,120 1,561,907 42 86 Deposits with licensed banks 991,620 1,113,410 11,171 13,933 6,855,005 7,030,814 1,620,947 2,817,049 31 December 2020 NOTES TO THE FINANCIAL STATEMENTS 31 December 2020 NOTES TO THE FINANCIAL STATEMENTS 10 412 10 413 /// Leadership / Governance / Financial Statements / Additional Information / Annual General Meeting ////// /// Leadership / Governance / Financial Statements / Additional Information / Annual General Meeting ////// Section Section MISC Berhad / Integrated Annual Report 2020 MISC Berhad / Integrated Annual Report 2020

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